| Earnings per Share |
Earnings per Share The following table sets forth the computation of basic and diluted earnings per share using the two class method (in thousands, except per share data): | | | | | | | | | | | | | | | | Three months ended September 30, | Nine months ended September 30, | | 2023 | 2022 | 2023 | 2022 | | Net income available to common shareholders | $ | 29,839 | | $ | 27,374 | | $ | 86,913 | | $ | 71,408 | | | Less: earnings allocated to participating securities | (281) | | (255) | | (813) | | (679) | | | Net earnings allocated to common shareholders | $ | 29,558 | | $ | 27,119 | | $ | 86,100 | | $ | 70,729 | | | | | | | | Distributed earnings allocated to common stock | $ | 10,554 | | $ | 9,564 | | $ | 29,744 | | $ | 27,220 | | | Undistributed earnings allocated to common stock | 19,004 | | 17,555 | | 56,356 | | 43,509 | | | Net earnings allocated to common shareholders | $ | 29,558 | | $ | 27,119 | | $ | 86,100 | | $ | 70,729 | | | | | | | | Average shares outstanding | 14,922 | | 14,776 | | 14,906 | | 14,878 | | | Effect of dilutive securities: | | | | | | Employee stock awards | 23 | | 24 | | 22 | | 23 | | | Shares for diluted earnings per share | 14,945 | | 14,800 | | 14,928 | | 14,901 | | | | | | | | Basic earnings per share | $ | 1.98 | | $ | 1.84 | | $ | 5.78 | | $ | 4.75 | | | Diluted earnings per share | $ | 1.98 | | $ | 1.83 | | $ | 5.77 | | $ | 4.75 | |
|